LGI Homes (LGIH) reported $645.27 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 10.8%. EPS of $2.25 for the same period compares to $5.20 a year ago.
The reported revenue represents a surprise of -0.43% over the Zacks Consensus Estimate of $648.04 million. With the consensus EPS estimate being $1.90, the EPS surprise was +18.42%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how LGI Homes performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Community Count at end of period: 102 versus 104 estimated by two analysts on average.
- ASP (Average sales price of homes closed): $348.04 million compared to the $356.86 million average estimate based on two analysts.
- Home Closings: 1854 compared to the 1782.5 average estimate based on two analysts.
Shares of LGI Homes have returned +4.9% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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